United Alloy Inc. expands Wisconsin operations
United Alloy Inc., a serial production metal fabrication and powder coating company, is growing its presence in Janesville.
The company’s recently announced expansion will include a new 100,000-square-foot facility on 17 acres next to its existing Kennedy Road operation. The $15 million project will also add 7,500 square feet to the existing site and add new equipment for both buildings. The expansion and enhancements are expected to create up to 66 jobs over the next three years.
United Alloy’s new facility will include an entirely new painting system that would occupy about one-fourth of the building, while the rest of the facility will be used for assembly and loading areas for trucks. Site development began in March, with the building expected to open by January 2019.
WEDC supported the project by authorizing up to $560,000 in state income tax credits over the next three years. The actual amount of tax credits United Alloy will receive is contingent upon the number of jobs created and the level of capital investment over that time. WEDC also has approved up to $10 million in Industrial Revenue Bonds to Janesville to provide financial support for the project. The city will issue the bonds on behalf of the company, and proceeds from the sale of those bonds will help finance the construction. As additional incentives for the project, the city sold United Alloy 17 acres of land for a price of $1, and provided the company with $394,000 in forgivable loans to help bridge a financing gap for the project.
“Rock County has seen an economic resurgence in recent years, and WEDC is pleased to have played a role in that turnaround,” said WEDC Secretary and CEO Mark R. Hogan. “Since 2011, WEDC has made more than $83 million in business and community investments in Rock County, including $33 million to companies for projects expected to retain or create more than 8,200 jobs and generate more than $600 million in capital investment.”
